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LuvSilk, we owe you a great deal of gratitude for going out your way and giving such a candid account of what you saw!
For anybody that has not travelled to Vietnam, I can assure you that the country can look somewhat ‘scruffy’ outside of the CBDs and the 5 star resorts. However I can also assure you that this is no reflection on productivity, efficiency and the level of activity that is behind closed doors.
The country has had a great deal of poverty through the years and still does in the majority of the country but this only adds to the countries recent industrial successes.
There is an area that is a suburb of H? Chi Minh City (Saigon). It’s mainly industrial but is a manufacturing hub with illustrious tenants such as Nike, Adidas, North Face etc. The factories in this area are not dissimilar to the ones in LuvSilk’s pictures. By western standards they look dishevelled, scruffy and often dilapidated but if it’s good enough for Adidas & Nike then it is good enough for us.
In all honesty, it didn’t exactly look like the hive of activity that I would have liked but maybe Kim has hit a brick wall with regards financing and he is struggling to get the fire started. I say let’s put our trust in him, vote for the RS and hope that that is what gets things rocking. For those who say he should be telling us if there is little to no activity (or just less than expected) then you need to get real as that’s not the way this game works. Unless you’re happy with the 40-1 split instead of a 10-1.
Hey Luvsilk I could get it translated. Can you inbox me an email address?
Does everybody keep using KBL instead of KBLB because they think that’ll be our NYSE ticker? ;)
Weird, showing 40k shares sold around 8:30 am for 0.349. Share account reflecting the 5.76% increase also!
The whole reason for the knee jerk reaction last week, ignorance to the true picture.
People getting cold feet because a reverse split is usually associated with nefarious incentives and more often than not is a sign that the company is simply trying to prop up the share price to keep it on an exchange or make it more appealing to people.
Provided we trust the reasoning behind it (I do) and we know what we own (I do) then we have nothing to worry about (I’m not). Last week we separated wheat from chaf. Those who bailed last week were undoubtedly largely ignorant and just see it as a red flag with no context whatsoever. I’m glad that those people sold, as with ignorance like that, I don’t think they deserve to prosper from KBLB’s success.
A look back in history tells us that more companies than not that reverse split do more poorly than pre-split. But that’s no indication that it’s a bad thing, they did badly in spite of the reverse split, not because of it. The reverse split was usually an attempt to stay afloat due to an ailing share price. Well we know that ain’t the case with Kraig, for Christ’s sake we are doing one off the back of the most impressive rise in share price in the company’s history!! If that doesn’t breed confidence then I give up as some people are obviously beyond talking to.......
That’s just what I wanted to hear from Kim BUT why set the lower limit to 10-1? If we’d have managed it with a 4-1 or 5-1 split them that would have been my preference.
I’m wondering if he’s expecting the negative sentiment surrounding the RS coupled with news of dilution to damage the SP sufficiently that the high ratio was necessary? I certainly hope not as although the long term benefit will be seen down the line, I don’t want to see my share account take a massive hit after absolutely ballooning these last 3 months or so :’(
Ok, have at it.
Please send us plenty of pictures of the buildings that we haven’t seen thus far.
See if you can get pictures of inside.
See if you can get talking to anybody at the gate.
Check out the security, give us confidence that our IP is in good hands.
Give us an idea of whether there’s plenty of activity or whether it looks like a ghost factory.
I could go on but I’m not sure how much time you’ve got to search for all this stuff to save LuvSilk a journey.
I’ve just looked for some geotagging on any Prodigy pictures but found none ;(
No street address on the sight but Dai Hiep commune is pretty small and not too many industrial use buildings on the map:
Ð?i hi?p
Ð?i L?c, Quang Nam Province
https://goo.gl/maps/9Wts6mJFWLr5wJh49
Intonation symbols deleted as they don’t appear correctly:
Dia Chí (address)
Xa (Commune) Dai Hiep,
huyen (dístrict) Dai Loc,
Tinh (province Quang Nam
Xã (Commune) Dai Hiep,
huyê?n (dístrict) Dai Loc,
t?nh (province Quang Nam
I just remembered, ALL commercial building signs must state the address of the building they are fronting ;)
https://mms.businesswire.com/media/20180710005302/en/667156/5/Prodigy_Grand_Opening.jpg?download=1
Hey pal.
Do you have plans to visit Da Nang or Hoi An? Or maybe Hue? If the answer is yes and you’re willing to give up a day of your holiday then I’m sure (almost) everybody on this board would be extremely grateful.
I’d imagine you’d have to either hire a motorbike or get yourself a car and driver for the day. It’d be good to get some pictures at the very least. Whether you fess up that you’re a shareholder, a silk enthusiast or whatever when/if you rock up is up to you ;)
Couldn’t disagree more. If I were still in Vietnam I’d be there in a shot.
BUT I lived there so had time to spare. I think Luvsilk is being extremely generous agreeing to go there to check it out.
Hey Hope, just got your inbox. Thanks for taking the time but honestly that’s a lost cause and I assure you buddy, no regrets!
For SUNY, just seen your private message. Thanks for taking the time!
Anybody believe Kim stepping down (for the right reasons of course) would have an impact on the share price? I’m sure it’d be impetus for mojo to increase his position but anybody else?
Tbh, I don’t think the company’s name could get any less bland, boring, vanilla or uninspiring. I’d love them to rename the company.
I remember reading a book by Peter Lynch (he ran the infamous Magellan fund for years) and one of his tips for finding a winning stock was to look for an up and coming company with a boring uninspiring name. His reasoning was that it was less likely to have eyes on it and may as a result, mean added value at the time of purchase. Inevitably, revs and profitability would mean the share price would rise eventually regardless of the name but at point of entry you’d be buying something that plenty of people just didn’t fancy because it sounds so uninspiring.
I’m paraphrasing and admittedly the book is pretty old & dated but I think that was the gist of it.
Sounds like good reasoning (amongst other DD of course) for finding value in stocks but obviously that very same thing could be holding us back. We’ve found our little gem already so none of us are interested in it being kept as a bit of a secret any more, just because it’s name fails to inspire......
Can’t disagree with anything in your post mojo (wonders never cease!).
Hey Bob, I’m not suggesting giving up whatsoever.
If I decide to sell 1% of my shares to spend 6 weeks travelling around SE Asia (theoretically, I haven’t booked it lol) then I won’t see that as giving up. I just see it as living in the moment. Sure, that money could be worth ten times more in 5 years time but when I consider that the other 99% is also worth ten times more at that point, I assure you there’ll be no regrets.
Is there nothing on your bucket list you’d like to do any time soon? :)
Absolutely Casper! I use the app all the time but next time I log onto the site I’ll try and post a pic ????
Sounds good SM
I do think we should set a price Ray, once we reach consensus we arrange a big party. I’ll hook up with Lebbe and we can travel together in business class lol
“Not so much expecting doom as seeing nothing but negatives and somehow thinking their expression of those negatives was going to magically cause the stock to trend higher.”
Or lower, I’m 100% aware that was the case with some.......
Been a long long journey Rayo, an absolute battle at times. Feels nice to have kept the faith for so long.
Even though my Wife was ultra hesitant when I recommended to people, I persisted in sharing with my nearest & dearest. Needless to say that everybody is happy as they all average at between a nickel & a dime.
What I want to know is, when do we arrange a celebratory meet? $2? $3?
Fully aware that being on the wrong side of the Atlantic, I’ll be coming over to your backyard but I’m completely fine with that. I might even bring The Duck :)
Jesus! Of course you were right! Even if it stopped here, no more confirmation needed!!!
That first line made me laugh, a fanny is a different thing in the Mother Country (UK) ;)
Except we know that the gift giving is on Christmas Day Bob!
Jees, been here since 2010. Not being a ‘vet’ snob but I wish I’d only found it in 2017!!!
FYI the board on the back says:
CONFERENCE
Invested capital announcement and cooperation agreement signing
KBL magic textile company – a US one-member limited liability company
Qu?ng Nam, June 17, 2019
Quite literal translation done by a local.....
He probably got it made in Hoi An, nobody goes to Hoi An without getting a suit made lol
“Congratulations from Vietinbank” :)
Great, thanks Z06 Man!
What have I missed? Material event?
You didn’t realise most of the world doesn’t have potable tap water?
Somewhat loose use of the term ‘dumping’
What an excellent post!
I’ve just turned 40 too. I have a long commute and a boring job but my contract is up for renewal on July 24th. Something is making me think there’ll be no signature on that new contract.
I said a long time ago that my dream was to retire at 49 and as it stands, I’m really close to it ;)
Boom! I hope you’re right on this one es1!
Check out the Intercontinental Danang Sun Peninsula Resort.
I only get 2 posts a day so any questions will have to wait till tomorrow for a response :)